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20110701
20110731
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WMAR (ABC) 3
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ABC
Jul 26, 2011 7:00am EDT
)s, other big costs. jake tapper and jon karl have been tracking it. >> reporter: last night after their prime time addresses to house speaker john boehner was overheard saying he didn't sign up to go mano a mano with the president after the president called for congress to compromise. the president spoke sternly to the american people last night blaming house republicans, especially freshmen, for holding up a debt deal. >> the only reason this balanced approach isn't on its way to becoming law right now is because a significant number of republicans in congress are insisting on a different approach. >> reporter: house speaker john boehner responded that the president wants to continue his rampant spending. >> the president often said we need a balanced approach, which in washington means, we spend more and you pay more. >> reporter: right now there are two competing bills, to raise the debt ceiling and reduce the deficit. a house one that likely cannot pass the senate and a senate one that cannot likely pass the house. both cut more than $1 trillion in spending and do not raise ta
ABC
Jul 27, 2011 7:00am EDT
right into the water looking for one of those lionfish. one of those tentacles hits you, you are in big trouble. it is full of poison, but everybody says they taste pretty good. >> taste like chicken. who knows? >> default for everything. speaking of default, let's go to capitol hill right now where members of congress are starting to hear from all of you after those dueling speeches from president obama and the house speaker on monday night, the switchboards on capitol hill were besieged, overwhelmed yesterday. thousands of phone calls and e-mails coming in almost all of them saying, robin, just get this done. >> so only five days left on the clock, george as you know, that important vote delayed by the house speaker as we get closer to potential financial chaos. abc's jonathan karl is on capitol hill. he has been tracking all the latest for us overnight. good morning, jon. >> reporter: good morning, robin. we are reaching crisis time here on capitol hill. the republicans delayed a vote on their bill in the house because they don't even have enough republican votes to pass their own bi
ABC
Jul 11, 2011 7:00am EDT
the big deal. $4 trillion in deficit reduction over the next 10 years. speaker john boehner says he wants to, too. but there's in path to get there. the clock is ticking. the major sticking point, whether it's a large part of tax reform, wages on top wage earners go up. it could not take the heat from his republican caucus. >> we have got to be able to deliver on this promise. >> reporter: republicans say that the problem is president obama has been unable to bring his own party around to own entitlement spending that he put on the table. tick tock. the goal is to reach an agreement in the next couple of weeks so that the law can be written and passed before the deadline of august 2nd, that's when the federal government is slated to run out of money. the immediate result, checks might be cut for social security payments, benefits. salaries for military families. . stock market could dive, perhaps as much as 9%. or roughly 8$800 billion. some of it from your retirement savings. interest rates for the u.s. government and for us would shoot up. trying to get a mortgage? what about a car loan
Search Results 0 to 2 of about 3